The DXY is getting rejected on the MA50 (1W), closing the week under it. It has closed all weeks of 2023 under it. This is very much alike the Cycles of 2017 and 2020. The upcoming Bullish Cross on MACD sealed the top on those Cycles.
Trading Plan: 1. Sell on the current market price and as long as the price is closing under the MA50 (1W).
Targets: 1. 98.000 (Fibonacci 1.236 extension, comparable to 2017 and 2020).
Tips: 1. The MA200 (1W) is moving towards 98.000. Last time DXY made contact with it was on February 7th 2022 and last time it closed under it was on November 1st 2021. This shows what a strong long term Support it is. If it gets hit and upon the first 1W candle it closes over it, then book profit right there.